Which of the following is a weakness of most government agencies?
a. A lack of market pressure to improve service
b. An organizational structure that is too flexible
c. An inconsistent source of funding
d. An unclear mission and vision
a. A lack of market pressure to improve service
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A reverse Phillips Curve would consist of a
A) positive relationship between deviations from trend in real and nominal interest rates. B) negative relationship between deviations from trend in real and nominal interest rates. C) positive relationship between deviations from trend in the level of prices and the level of aggregate economic activity. D) negative relationship between deviations from trend in the level of prices and the level of aggregate economic activity.
Which of the following statements is NOT a reason that the cost of a college education is greater for the low-productivity group than for the high-productivity group?
A) The wages they give up by going to college instead of working will tend to be higher for them. B) They may have to pay for tutoring services or other extra help to accomplish the same educational goal. C) They may have to take remedial classes, which would increase the length of time it takes to accomplish the same goal. D) Even if they take no remedial classes, they may have to spend more time studying for each class, and the value of their leisure time needs to be considered in the calculation. E) Based on previous signaling, such as from their high school grades or SATs, they may receive less merit-based financial assistance, and thus be under a greater financial strain during their college years.
The MC curve intersects the AVC curve at the ____________ of the AVC curve.
Fill in the blank(s) with the appropriate word(s).
Refer to Figure 33-6. Which of the long-run aggregate-supply curves is consistent with a short-run economic expansion?
A. LRAS1 B. LRAS1 C. LRAS3 D. Both LRAS1 and LRAS3